The Transmission Company of Nigeria (TCN) has boasted that the cost of energy in Nigeria is more affordable than several neighbouring African countries.
This is despite the recent hike in electricity tariffs in the country.
The hike, which took effect on April 3, 2024, saw the Nigerian Electricity Regulatory Commission (NERC) raised costs for consumers receiving at least 20 hours of power daily, classified under Band A.
The development pushed the tariff from N66 to N225 per kilowatt-hour, a move that has drawn widespread criticism due to the timing.
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Nigerians already grappling with economic hardships following the removal of the petrol subsidy had flayed the increment calling for review.
But speaking on Channels Television, TCN Managing Director, Sule Abdulaziz, said the price remains lower compared to other African nations like Niger, Burkina Faso, and Senegal
Abdulaziz explained that Nigerians are paying more for electricity because power production is expensive, citing factors like the exchange rate and the cost of generation.
“Electricity is now expensive in Nigeria, we are feeling it is expensive because we are getting it at a cheaper price. If you go to other African countries… still, now, Nigeria is cheaper
“Nigerians are getting 24 hours supply (daily), it’s not everybody but those people on Band A, they get 20 to 22 hours,” he stated.
Abdulaziz assured that Nigeria could achieve stable power supply within the next five years, pointing to improvements in electricity supply over the last year.
“If you ask Nigerians, all of them know that there is improvement in power and this improvement is going to continue,” he said.
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